Market Analysis ~ Week Ending Friday 2/5th

Posted on by FX BABA

*Sample market analysis report we can provide to private parties interested.

Weekly AUDCAD, AUDCHF, AUDJPY, AUDNZD & AUDUSD

  • ZPrices are located above the 10,20,50,100 & 253 weekly moving average for all AUD pairs except AUDNZD which remains below 10,20 & 253. Worth mentioning a cross of AUDNZD Price above the 50 weekly MA this week.
  • ZVolume (Volume Delta) remains above the 10,20,50,100 & 253 weekly moving averages for all pairs except AUDNZD 10 weekly average remains below. Like with Price, worth mentioning a cross of AUDNZD Volume Delta above the 50 weekly MA this week.
  • ZRange (Volatility):
    • 10 Weekly MA: Below the average and in decline for all pairs
    • 20 Weekly MA: Above the average and rising for all pairs except AUDNZD. AUDCHF reaching over extended levels and AUDNZD under extended levels.
    • 50 Weekly MA: AUDCAD, AUDJPY & AUDUSD above the average while AUDCHF & AUDNZD below the average. AUDJPY & AUDUSD reached over extented levels.
    • 100 Weekly MA: AUDCAD & AUDUSD above average with AUDUSD in over extended levels. AUDCHF, AUDJPY & AUDNZD below average.
    • 253 Weekly MA: All AUD pairs below average except AUDCAD above.
  • ZTrendIndex:
    • 10 Weekly MA: Above average for all pairs. AUDCHF & AUDJPY rising while the rest are in decline.
    • 20 Weekly MA: Above average for all pairs except AUDNZD. All pairs in declined except AUDNZD rising.
    • 50 Weekly MA: Above average for all pairs. AUDCAD & AUDNZD in decline while the rest is rising
    • 100 Weekly MA: AUDCAD & AUDUSD above the average and rising while the rest is below the average but also rising.
    • 253 Weekly MA: All pairs below the average but rising

AUD Summary: Overall the Australian Dollar continues its upward trend with a minor reversal towards the mean in the short term due to overextended levels, giving traders an opportunities to look for Long entries.

Weekly CADCHF, CADJPY

  • Prices: CADCHF trading above the 10,20,50 MA and over extended while still below the 100 & 253 averages. CADJPY above 10,20,50 & 100MA while still below the 253MA. Also overextended on 10,20 & 50 but not as much as CADCHF.
  • ZVolume: Above the 10,20,50 & 100MA for both CADCHF & CADJPY with extended levels on CADCHF. Still below the 253MA.
  • ZRange(Volatility):
    • 10 Weekly MA: Above the average and rising for CADCHF and below the average and in decline for CADJPY
    • 20 Weekly MA: Below the average but rising for CADCHF and above the average and rising for CADJPY
    • 50 Weekly MA: Below the average and in declined for both pairs. CADCHF under extended.
    • 100 Weekly MA: Above the average for CADCHF and below for CADJPY. Both pairs in decline.
    • 253 Weekly MA: Both pairs below average but rising.
  • ZTrendIndex:
    • CADCHF Above the 10 & 20 MA while below the 50, 100 & 253 yet rising on all averages.
    • CADJPY Above the 10, 20 & 50 MA while below the 100 & 253 also rising on all averages.

CAD Summary: The Canadian Dollar keeps gaining an upward momentum at least against the CHF & JPY as well as against USDCAD & EURCAD

Weekly CHFJPY

  • Prices: CHFJPY prices are trading above all averages.
  • ZVolume: Although prices are trading above all averages, Volume remains below all averages.
  • ZRange(Volatility):
    • 10 Weekly MA: Below the average and under extended.
    • 20 Weekly MA: Below the average but rising
    • 50 Weekly MA: Above the average and rising.
    • 100 Weekly MA: Above the average and over extended.
    • 253 Weekly MA: Below the average but rising.
  • ZTrendIndex:
    • CHFJPY Above all averages and rising. Bullish trend

CHF Summary: The Swiss Dollar remains in a bullish trend against the Japanese Yen. Short term low volatility and low volume indicates a period of consolidation. Price action did reach some overextended levels so its possible that the bullish trend is loosing momentum. Meaning taking a Long position at this level is high risk.

Weekly EURAUD, EURCAD, EURCHF, EURJPY, EURNZD & EURUSD

  • ZPrices:
    • 10 Weekly MA: Below the average for all pairs except EURCHF & EURJPY. EURCHF crossed over this week.
    • 20 Weekly MA: Below the average except for EURCHF, EURJPY & EURUSD. EURCAD & EURGBP under extended.
    • 50 Weekly MA: Below the average except for EURCHF, EURJPY & EURUSD. EURCAD crossed below this week.
    • 100 Weekly MA: Below the average except for EURCAD, EURJPY & EURUSD. EURGBP crossed below this week
    • 253 Weekly MA: Above the average except for EURCHF
  • ZVolume (Volume Delta)
    • 10 Weekly MA: Below the average for all pairs except EURCHF. EURAUD under extended
    • 20 Weekly MA: Below the average except for EURCHF, EURJPY & EURUSD. Like with Price, EURCAD & EURGBP under extended.
    • 50 Weekly MA: Below the average except for EURCHF
    • 100 Weekly MA: Below the average except for EURCHF.
    • 253 Weekly MA: Unlike with Price, below the average except for EURCHF
  • ZRange (Volatility):
    • 10 Weekly MA: Above the Average for EURAUD, EURCAD & EURGBP and rising for EURCAD & EURGBP but declining for EURAUD. Below the average for EURCHF, EURJPY, EURNZD & EURUSD. Rising on EURCHF & EURNZD while EURJPY & EURUSD in decline. EURJPY under extended.
    • 20 Weekly MA: Below the average except EURAUD, EURGBP & EURNZD. All pairs rising except EURAUD declining after reaching over extension.
    • 50 Weekly MA: Below the average except for EURJPY & EURUSD. EURCAD, EURGBP, EURJPY & EURUSD in decline while EURAUD, EURCHF & EURNZD are rising.
    • 100 Weekly MA: Above average except for EURCHF & EURJPY. All declining except EURJPY & EURUSD. EURCAD over extended
    • 253 Weekly MA: All pairs below the average except for EURAUD & EURNZD. All rising except for EURAUD & EURNZD.
  • ZTrendIndex:
    • 10 Weekly MA: Below the average except for EURUSD. All pairs in decline except for EURAUD & EURJPY.
    • 20 Weekly MA: Below the average except for EURCHF, EURJPY & EURUSD. EURAUD, EURCHF & EURNZD rising while the rest in decline.
    • 50 Weekly MA: Above average for all pairs except EURAUD & EURNZD. All in decline except EURCHF.
    • 100 Weekly MA: All above the average except EURCHF & EURJPY. All rising except EURAUD & EURNZD.
    • 253 Weekly MA: All pairs above the average except EURCHF & EURJPY. EURAUD, EURCAD, EURGBP & EURNZD declining while EURCHF, EURJPY & EURUSD rising.

EUR Summary: Overall the EUR remains bullish. Short term may look like it’s time to sell. However all EUR pairs are above the 5 Year Moving Average. It is natural that we see a correction. It is certainly possible to have a trend reversal at this level but that is yet to be seen/confirmed. Until then EUR remains bullish.

Weekly GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD

  • ZPrices:
    • 10 Weekly MA: Above the average except for GBPAUD & GBPNZD.
    • 20 Weekly MA: Above the average except for GBPAUD & GBPNZD. GBPCHF over extended.
    • 50 Weekly MA: Above the average except for GBPAUD & GBPNZD.
    • 100 Weekly MA: Above the average except for GBPAUD & GBPNZD.
    • 253 Weekly MA: Above the average except for GBPCHF & GBPNZD.
  • ZVolume (Volume Delta)
    • 10 Weekly MA: Above the average except for GBPAUD & GBPNZD.
    • 20 Weekly MA: Below the average except for GBPCHF & GBPJPY.
    • 50 Weekly MA: Below the average except for GBPCHF, GBPJPY & GBPUSD
    • 100 Weekly MA: Above the average except for GBPAUD, GBPCAD & GBPNZD.
    • 253 Weekly MA: Above the average except for GBPAUD, GBPCAD & GBPNZD.
  • ZRange (Volatility):
    • 10 Weekly MA: Above the average except for GBPAUD, GBPNZD & GBPUSD. GBPCHF & GBPJPY over extended. All rising except GBPAUD & GBPUSD.
    • 20 Weekly MA: Above the average except for GBPCAD & GBPNZD. GBPCHF over extended. All rising.
    • 50 Weekly MA: Above the average except for GBPCAD, GBPCHF & GBPJPY. GBPAUD, GBPNZD & GBPUSD in decline while the rest are rising.
    • 100 Weekly MA: Above average except GBPCAD & GBPJPY. All rising except GBPCHF & GBPJPY
    • 253 Weekly MA: All pairs below the average. All pairs rising except GBPCHF & GBPUSD
  • ZTrendIndex:
    • 10 Weekly MA: Above the average except for GBPAUD & GBPNZD. All rising.
    • 20 Weekly MA: Above the average except for GBPAUD & GBPNZD. All rising except GBPJPY & GBPUSD
    • 50 Weekly MA: Above the average except for GBPAUD, GBPCHF & GBPNZD. All rising.
    • 100 Weekly MA: Above the average except for GBPCHF & GBPJPY. All rising except GBPAUD & GBPNZD
    • 253 Weekly MA: Couldn’t get enough data

GBP Summary: Overall the GBP remains bullish against most currencies except AUD & NZD. However that appears to be changing too based on short term rising of ZTrendIndex. Waiting for an increased of Volume Delta on GBPAUD & GBPNZD before entering Longs would be worth waiting for.

Weekly NZDCAD, NZDCHF, NZDJPY, NZDUSD

  • ZPrices:
    • Prices remain above all average for all NZD Pairs except NZDCHF 253MA
  • ZVolume (Volume Delta)
    • 10 Weekly MA: Above the average except for NZDCHF
    • 20 Weekly MA: Above the averages for all pairs
    • 50 Weekly MA: Above the averages for all pairs
    • 100 Weekly MA: Above the averages for all pairs
    • 253 Weekly MA: Above the averages for all pairs
  • ZRange (Volatility):
    • 10 Weekly MA: Below the average on all pairs but rising.
    • 20 Weekly MA: Above the average on all pairs and rising.
    • 50 Weekly MA: Above the average except NZDCHF which is below but rising. NZDCAD, NZDJPY & NZDUSD over extended and in decline while
    • 100 Weekly MA: Above average except NZDJPY. NZDCAD rising while NZDUSD is over extended.
    • 253 Weekly MA: All pairs below the average but rising.
  • ZTrendIndex:
    • 10 Weekly MA: All above the average and rising except NZDUSD
    • 20 Weekly MA: All above the average but in decline.
    • 50 Weekly MA: All above the average and rising except NZDCAD
    • 100 Weekly MA: All below average except NZDCAD. All rising
    • 253 Weekly MA: All below the average. All rising.

NZD Summary: Like with the AUD, overall the New Zealand Dollar continues its appreciation with a minor reversal towards the mean in the short term due to overextended levels, giving traders an opportunities to look for Long entries.

Weekly USDCAD, USDCHF & USDJPY

  • ZPrices:
    • 10 Weekly MA: Above the average except for USDCAD
    • 20 Weekly MA: Below the average except for USDJPY
    • 50-253 Weekly MA: Below the average
  • ZVolume (Volume Delta)
    • 10-253 Weekly MA: Above the averages except for USDCAD which remains below. (Interesting observation)
  • ZRange (Volatility):
    • 10 Weekly MA: Below the average and in decline except for USDJPY which is above and rising.
    • 20 Weekly MA: Below the average except USDCAD which is above. All rising
    • 50 Weekly MA: Above the average. USDCAD rising. Rest in decline.
    • 100 Weekly MA: Above the average. USDCAD rising. Rest in decline.
    • 253 Weekly MA: All pairs below the average but rising.
  • ZTrendIndex:
    • 10 Weekly MA: All above the average and rising except USDCAD which is below but also rising.
    • 20 Weekly MA: All below the average but rising.
    • 50 Weekly MA: All below the average but rising except USDCAD which is declining.
    • 100 Weekly MA: All below average except USDCAD. All rising except USDCAD.
    • 253 Weekly MA: All below the average except USDCAD. All rising except USDCAD. USDCHF & USDJPY deeply under extended.

USD Summary: The USD has been in negative territory for a while now. It is showing signs of awakening but it is yet to be seen whether is a minor correction to continue negative trend or whether a trend reversal to the upside is in motion.

Overall Market Conclusion: The USD continues to be under pressure by most currencies except the Swiss Franc and the Japanese Yen which have shown sign of weakness against all other major currencies. The EUR is having a hard time against the AUD, CAD, GBP & NZD. It is yet to be determined but it seems the AUD, CAD & NZD may win the fight. The AUD & NZD continue their upward momentum with what it looks to be a brief correction, especially against CHF, JPY and maybe even CAD & USD. The CAD has certainly remain strong against CHF, JPY & USD but so so against AUD & NZD.

In our opinion, lining up all major currencies from strong to week:

NZD – AUD – GBP – CAD – EUR – USD – CHF – JPY